Industry body predicts hard year for Austria chems

29 April 2008 14:44  [Source: ICIS news]

TORONTO (ICIS news)--Austria’s chemicals industry expects a difficult 2008 after growth already declined sharply in the second half of 2007, the country’s chemical industry association Fachverband der Chemischen Industrie (FCIO) said on Tuesday.

 

“Austria’s chemicals producers are not optimistic for 2008,” said FCIO head Peter Untersperger, citing his association’s latest industry survey.

 

While overall production was up 4.4% in 2007, from 2006, growth slowed sharply in the second half of the year after a very strong first half, he said.

 

Growth in the first half was 9.7% on the back of strong export growth that was achieved despite the strong euro, compared with growth in the second half of only 2.1%

 

“The extent of the decline in the second half of 2007 was surprising,” said Untersperger.

 

He pointed in particular to production declines in sectors such as organic chemicals, detergents, cosmetics, paints and coatings.

 

In terms of Austrian chemical product exports, Turkey saw the sharpest increase in 2007, up 45% from 2006.

 

Exports to Asia were up 17%, with China exports up 25%, while exports to Russia were up 14% but appeared to have peaked.

 

Even exports to the US market rose 18%, a remarkable achievement in light of global economic trends and that country’s slowing economy, FCIO said.

 

FCIO also warned of a shortage of qualified workers in the coming years and called for more and better teaching of chemistry in schools.

By: Stefan Baumgarten
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